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Texas Cash Market recap, Mar. 19

AUSTIN -- For the week ending March 19, feeder cattle prices at Texas auctions were mostly steady to $7 lower per hundredweight, though early in the week a few locations were $2 to $8 higher. Lower fed cattle prices contributed to the decline, though tight supplies continue to support the market. Fed cattle prices were down by $4 as concerns that the crisis in Japan and turmoil in the Middle East and North Africa will erode demand. Cotton and grain prices declined early in the week, but later recovered at least some of those losses as markets refocused on the continued tight supplies and strong weekly export sales. . . .

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